NEW YORK (Reuters) - Rising label ets and a fifth straight month of investors adding money pushed hedge fund assets close to $2 trillion (1.2 trillion pounds) in September, according to industry research firm HedgeFund.net.
Globally, hedge fund assets rose nearly 3 percent last month to $1.95 trillion, a net increase of $56.4 billion from August. The bulk of the increase came as stocks, bonds and other assets rose in value.
Total assets peaked at $3 trillion in spring 2008, according to HedgeFund.net, whose industry asset estimates are significantly higher than those of rival hedge fund trackers.
Net inflows, though just $7 billion, label ed the fifth straight month of net fresh money moving into the industry after record withdrawals in the fourth quarter and steep redemptions in the first quarter, HedgeFund.net said on Thursday.
The most well strategies during the third quarter including statistical arbitrage funds, where allocations rose 13 percent, and event-driven funds, where allocations boosted assets more than 8 percent.
Conversely, HedgeFund.net found investor redemptions reduced long-only strategies by 4 percent. Multi-strategy funds and convertible arbitrage funds saw redemptions that outpaced fresh investments
Overall average performance was positive for a seventh straight month, up 2.7 percent last month and nearly 17 percent for the year.
(Reporting by Joseph A. Giannone; Editing by Tim Dobbyn)
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